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enters battery production with stake in Tier 2 lithium ion battery cell manufacturer Guoxuan","volkswagen-take-stake-in-tier-2-lithium-ion-battery-cell-manufacturer-guoxuan","article/volkswagen-take-stake-in-tier-2-lithium-ion-battery-cell-manufacturer-guoxuan",{"_uid":557,"date":558,"tags":559,"editor":563,"content":573,"excerpt":660,"featured":50,"reporter":661,"_editable":665,"component":666,"seo_title":553,"categories":667,"visibility":671,"author_company":49,"featured_image":672,"seo_description":660,"author_full_name":49,"author_job_title":49,"formattedDate":677,"formattedArticleDate":678},"bd3694e5-cd06-440b-8932-4f890f5656e0","2020-06-01 00:00",[560],{"slug":561,"name":562},"china","China",[564],{"slug":565,"name":566,"content":567},"matthew-bird","Matthew Bird",{"job_title":568,"image":569,"bio":571,"linkedin":572},"Senior Editor - Supply Chains & Data Visualisation",{"filename":570},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":574,"content":575},"doc",[576,583,588,595,600,605,610,615,620,625,630,635,640,645,650,655],{"type":577,"attrs":578,"content":579},"paragraph",{"textAlign":49},[580],{"text":581,"type":582},"Volkswagen (VW) has confirmed it will become the largest shareholder in Chinese lithium ion battery cell manufacturer Guoxuan High-tech Co Limted (also known as Gotion). The deal — reports of which first surfaced in January this year — will see VW take a 26% share for €1.1 billion and is expected to be finalised by the end of 2020.","text",{"type":577,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":582},"The deal is a significant step as it marks greater involvement from companies at the battery cell stage of the supply chain. Having already made plans to develop its own European megafactory in 2019, the latest deal also shows VW’s intent to have its own localised supply of cells in China.",{"type":589,"attrs":590,"content":592},"heading",{"level":591,"textAlign":49},4,[593],{"text":594,"type":582},"Who are Guoxuan?",{"type":577,"attrs":596,"content":597},{"textAlign":49},[598],{"text":599,"type":582},"Headquartered in Hefei, Anhui province, Guoxuan’s flagship lithium ion battery plant has 8GWh of production in capacity according to Benchmark’s Lithium ion Battery Megafactory Assessment.",{"type":577,"attrs":601,"content":602},{"textAlign":49},[603],{"text":604,"type":582},"In addition, the Tier 2 manufacturer has two other active battery cell plants within China taking its total production capacity in 2019 to 13 GWh, enough to make over 236,000 EVs with a 55kWh battery pack average. The company has two further megafactories in the pipeline which aim to add an additional 46GWh of capacity by 2029.",{"type":577,"attrs":606,"content":607},{"textAlign":49},[608],{"text":609,"type":582},"Benchmark understands that on the back of the announcement Guoxuan will be announcing a further 16GWh megafactory, located in Hefei, Anhui, China. The plant is set to use high nickel NCM cells, and will be supported by Guoxuan’s additional 30,000 tonnes per annum of high nickel (NCM 811) cathode capacity.",{"type":577,"attrs":611,"content":612},{"textAlign":49},[613],{"text":614,"type":582},"Interestingly, Guoxuan is semi-integrated with its own lithium iron phosphate (LFP) cathode production capacity and its activity in making LFP cells for China’s e-bus market has given it an estimated 5-7% market share in 2019.",{"type":577,"attrs":616,"content":617},{"textAlign":49},[618],{"text":619,"type":582},"The producer has plans to expand this further, along with with NCM 622 cathode production facilities under construction. The company’s total cathode capacity could climb to 110,000 tpa (tonnes per annum) over the coming year, from a base of 20,000 tpa according to the Benchmark Minerals Cathode Market Assessment.",{"type":589,"attrs":621,"content":622},{"level":591,"textAlign":49},[623],{"text":624,"type":582},"What does this mean for VW?",{"type":577,"attrs":626,"content":627},{"textAlign":49},[628],{"text":629,"type":582},"The Guoxuan deal highlights VW’s strategic shift towards electric vehicles and its desire to build out its capabilities to deliver on its bold electrification targets.",{"type":577,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":582},"Under its latest plans, the company is targeting production of 1.5 million electric vehicles per annum from 2025 but is ramping up production throughout the 2020s. As part of these plans it has created its own electric vehicle platform — the modular electric drive matrix (MEB) — which Guoxuan is in the process of becoming a certified supplier for.",{"type":577,"attrs":636,"content":637},{"textAlign":49},[638],{"text":639,"type":582},"To meet these its EV targets, VW has shown increased awareness of its supply chain inadequacies and has attempted to build a foothold in various stages sectors of the value chain.",{"type":577,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":582},"VW has invested or has supply deals across various stages of the lithium ion supply chain. Looking upstream it has a long-term lithium supply deal with Ganfeng and it is building out megafactory capacity through its joint-venture megafactory in Salzgitter, Germany, with Northvolt.",{"type":577,"attrs":646,"content":647},{"textAlign":49},[648],{"text":649,"type":582},"The deal with Guoxuan will give VW further access to battery technology with both high nickel and LFP (lithium iron phosphate) cathodes available. Guoxuan’s expansion into high nickel cathode cells certainly suggests that high nickel NCM is a major factor in VW’s decision to invest.",{"type":577,"attrs":651,"content":652},{"textAlign":49},[653],{"text":654,"type":582},"However, with Guoxuan’s existing expertise and capacity in LFP there remains scope for VW to use this in its Chinese electric vehicles. With Tesla having announced plans to use LFP cells in its Chinese standard-range Model 3s, LFP cathode technology represents an avenue for OEMs to use in the Chinese market.",{"type":577,"attrs":656,"content":657},{"textAlign":49},[658],{"text":659,"type":582},"VW is a major player in China’s auto market, and with the threats from both domestic electric vehicle (EV) producers and Tesla’s Chinese ambitions, the Guoxuan deal will be a critical role in its Chinese EV strategy.","Volkswagen (VW) has confirmed it will become the largest shareholder in Chinese lithium ion battery cell manufacturer Guoxuan High-tech Co Limted (also known as Gotion). The deal — reports of which first surfaced in January this year — will see VW take a 26% share for €1.1 billion and is expected to be finalised by […]",[662],{"slug":565,"name":566,"content":663},{"job_title":568,"image":664,"bio":571,"linkedin":572},{"filename":570},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"bd3694e5-cd06-440b-8932-4f890f5656e0\", \"id\": \"\"}-->","article",[668],{"slug":669,"name":670},"batteries","Batteries","private",{"id":49,"alt":673,"name":673,"focus":673,"title":673,"source":673,"filename":674,"copyright":673,"fieldtype":675,"meta_data":676,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/6ab030b3c9/bm-db2020nr00271-small.jpg","asset",{"alt":673,"title":673,"source":673,"copyright":673},"Jun 01, 2020","1st June 2020",[],[],1792509929971]